Are members invested in Bitcoin/crypto?

Walrus · Jun 11, 2023

Tony C.
Yes, but no matter where one lives, it would be beyond idiotic to hold any assets in Binance, given the revised TOS.

Yes I wouldn’t argue against that I had issues with binance and there BNB coin for a while

Twocats · Jun 11, 2023

Buy a Ledger or other type of hardware wallet and you are in a better position. I only keep the assets on Coinbase and Kraken that I trade with daily.

Walrus · Jun 11, 2023

Apparently coinbase has evidence that Gensler put in a 2.5 million short position on Bitcoin 48hrs before he announced the lawsuit. I can only find evidence of this on crypto news sites so I take it with a grain of salt. If true actions like that should be illegal for those who make the rules.

Regional banks were crying out to the SEC for help as the hedge funds and others having been attacking them with short positions and floating false news but he is refusing to do anything. The whole thing is disappointing but when it comes to making a buck it gets vicious out there. I don’t think im built for play like that.

Twocats · Jun 11, 2023

Walrus
Apparently coinbase has evidence that Gensler put in a 2.5 million short position on Bitcoin 48hrs before he announced the lawsuit. I can only find evidence of this on crypto news sites so I take it with a grain of salt. If true actions like that should be illegal for those who make the rules.

Regional banks were crying out to the SEC for help as the hedge funds and others having been attacking them with short positions and floating false news but he is refusing to do anything. The whole thing is disappointing but when it comes to making a buck it gets vicious out there. I don’t think im built for play like that.

It would be hard to imagine he is that careless but he is a megalomaniac so wouldn't surprise me. I wonder if it has anything to do with the release of the Hinmann emails on the 13th. XRP and Bitcoin may soon be the only tokens with clarity and I have a feeling ETH is going to take a hammering if there is anything that sounds like a Simpson-Thatcher narrative in the emails. The SEC removed Hinmann's bio from the website so they may be expecting incoming.

Toishome · Jun 21, 2023

I mentioned a while back on this thread that "crypto was here to stay". I know that upset a few people that mentioned they were sick and tired of hearing that. They were looking for proof 😀 I think this should suffice.

https://watcher.guru/news/fed-chair-powell-says-crypto-appears-to-have-staying-power

Walrus · Jun 26, 2023

And we just got the always welcomed Jim Cramer inverse effect
https://www.reddit.com/comments/14j..._app&utm_name=ioscss&utm_content=1&utm_term=4

Walrus · Jun 26, 2023

I tried to buy two watches here with crypto recently. Unfortunately the sellers aren’t into crypto so no deal. That is by no means a negative statement towards the sellers many people aren’t into crypto but in a way I’m glad as it bumped up 30% since I asked. The there are a couple sites that do only crypto for watches and I know a lot of Reddit sellers take it.

I’d rather deal with someone I know though cause once I send the crypto it ain’t coming back. Need to find someone with the lightning network as well. I guess there are ways around that.

amazonwall · Jun 27, 2023

Toishome
I mentioned a while back on this thread that "crypto was here to stay". I know that upset a few people that mentioned they were sick and tired of hearing that. They were looking for proof 😀 I think this should suffice.

https://watcher.guru/news/fed-chair-powell-says-crypto-appears-to-have-staying-power

I strongly second that.

amazonwall · Jun 27, 2023

We're a decade into this experiment, Bitcoin is at the apex of its popularity, its a household name.

Tony C. · Jun 27, 2023

The apex of its popularity? At ~50% off its all-time high?

Nope.

fibonacci · Jun 27, 2023

Tony C.
The apex of its popularity? At ~50% off its all-time high?

Nope.

By that logic the internet was more popular in 2000 than 2010.

Tony C. · Jun 27, 2023

fibonacci
By that logic the internet was more popular in 2000 than 2010.

Nonsense. The internet had vastly more users, and aggregate value in 2010 than in 2000. At the end of 2000, there were 361 million users, while at the end of 2010, there were slightly less than two billion users. It isn't possible to accurately calculate the value of internet at any given time, as can be done with individual companies and Bitcoin. But there is no doubt that the business conducted on it was far greater in 2010 than 2000.

In November 2022, when Bitcoin hit its high of ~66k, the DJI was at 33.7k, today it is at almost an identical level, yet Bitcoin's value has been cut in half. It would be naive to the extreme to believe that the recent, damning chain of events relating to the cryptocurrency industry have not damaged Bitcoin's popularity. The radical changes in central bank policies have also had a major, negative impact.

fibonacci · Jun 27, 2023

Tony C.
Nonsense. The internet had vastly more users, and aggregate value in 2010 than in 2000. At the end of 2000, there were 361 million users, while at the end of 2010, there were slightly less than two billion users. It isn't possible to accurately calculate the value of internet at any given time, as can be done with individual companies and Bitcoin. But there is no doubt that the business conducted on it was far greater in 2010 than 2000.

In November 2022, when Bitcoin hit its high of ~66k, the DJI was at 33.7k, today it is at almost an identical level, yet Bitcoin's value has been cut in half. It would be naive to the extreme to believe that the recent, damning chain of events relating to the cryptocurrency industry have not damaged Bitcoin's popularity. The radical changes in central bank policies have also had a major, negative impact.

Nasdaq 100 price on March 28th 2000: 4,781.19
Nasdaq 100 price on March 28th 2010: 1,867.72

Tony C. · Jun 27, 2023

fibonacci
Nasdaq 100 price on March 28th 2000: 4,781.19
Nasdaq 100 price on March 28th 2010: 1,867.72

Cherry-picked, and irrelevant. Picking a peak of a historic bubble, and a trough of a historic crash, reveals nothing useful in the context of this discussion.

I have provided simple facts that explain why Bitcoin is currently nowhere near as "popular" as it was during the peak manias of '21 and '22. Feel free to attempt to argue otherwise.

Walrus · Jun 27, 2023

Rather than cherry picking let’s compare it to gold.

Walrus · Jun 27, 2023

Tony C. · Jun 27, 2023

Walrus
Rather than cherry picking let’s compare it to gold.

Surely you jest.

Walrus · Jun 27, 2023

Walrus · Jun 29, 2023

I don’t know why but I’ve been rooting for apple to break and stay above the 3 trillion dollar market cap like I’m watching a ballgame. So close now. It’s not like my life will change in anyway I just have a few shares. Tomorrow the market is bound to tank short everything I have a good feeling.

Tony C. · Jul 8, 2023